Determinants of bank selection by university student in Ghana.
Determinants of bank selection by university student in Ghana.
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Date
2019
Authors
Dogbe, Courage Simon Kofi
Bamfo, Bylon Abeeku
Sarsah, Sampson Ato
Journal Title
Journal ISSN
Volume Title
Publisher
International Journal of Developing and Emerging Economies
Abstract
The study examines the bank selection criteria employed by
Ghanaian university students. Design/methodology/approach – We used convenience
sampling to select 997 students aged between 15-30 years from Kwame Nkrumah University
of Science and Technology. Exploratory factor analysis was first conducted to determine the
constructs that measure students’ selection of bank criteria. Using binary logistic regression,
the extracted constructs were used as independent variable on the bank patronized. The
effects of student demographics on the bank selection criteria was also determined using a
multiple linear regression. Findings – The study extracted six constructs that measured bank
selection criteria by university students. These were operational competence, external
influence, physical evidence, e-banking facilities, convenience and cost of operating bank
account. Out these, e-banking facility, convenience and cost of operating bank account, were
statistically significant at determining the selection of bank. The department students
belonged to (social science or pure science) affected the level of weight placed on cost of
operation. Age of respondents and department affected the premium placed on e-banking.
Finally, employment status and department affected the level of importance student attached
to convenience as a selection criterion. Gender of students had no statistical effect on any of
the bank selection criteria. Originality/value – The reviewed literature showed that,
researchers either explored in isolation, bank characteristics influencing bank selection by
clients, or client demographic and preference for bank and its characteristics. This study
sought to feel this gap by combining the two, to provide a more robust model in explaining
students’ selection of bank
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Citation
Dogbe, C. S. K., Bamfo, B. A., & Sarsah, S. A. (2019). Determinants of bank selection by university students in Ghana. International Journal of Developing and Emerging Economies, 7(1), 13-28.